Did the Euro Kill Governance in the Periphery?

By the end of the 1990s, under the incentive of Eurozone entry, most peripheral European countries were busy undertaking structural reforms and putting their fiscal houses in order. This column argues that the arrival of the euro, and the subsequent interest-rate convergence, loosened a tide of cheap money that reversed the incentives for further reforms. [...] View the full post at: Did the Euro Kill Governance in the Periphery? Related posts: Euro Hits Twenty-Month Low Against Greenback; British Pound to Five Year Low The Economy Needs Corporate Governance Reform Euro Hits 1 Yr Low on Trichet’s Comments: Is He Open to Coordinated Easing?